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DEBT (Tables)

3 Months Ended

Mar. 31, 2014

DEBT

Schedule of long-term debt

		March 31, 2014			December 31, 2013
2007 Credit Facility		$	1,055,912		$	1,055,912
$100 Million Term Loan Facility		73,561			75,484
$253 Million Term Loan Facility		175,718			180,793
2010 Baltic Trading Credit Facility		102,250			102,250
Baltic Trading $22 Million Term Loan Facility		21,250			21,625
Baltic Trading $44 Million Term Loan Facility		43,313			44,000
Less: Current portion		(1,309,441		)	(1,316,439		)
Long-term debt		$	162,563		$	163,625

Schedule of effective interest rate and the range of interest rates on the debt

		Three Months Ended March 31,
		2014		2013
Effective Interest Rate		4.35	%	4.73	%
Range of Interest Rates (excluding impact of swaps and unused commitment fees)		3.15% to 4.25	%	3.20% to 4.38	%

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- Definition

Tabular disclosure of effective interest rate associated with the interest expense for the entity's debt facilities, including the rate differential between the pay fixed, receive variable rate on the interest rate swap agreements that were in effect and the cost associated with unused commitment fees. Additionally, it includes the range of interest rates on the debt, excluding the impact of swaps and unused commitment fees.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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